I've applied for an IVA, the proposal done, just waiting to hear when the meeting is. My main concern, before applying for an IVA I did a balance transfer to one of my credit cards totaling £6k, I did this as I was offered 18months interest free and would reduce the minimum payment I was paying each month on my other cards.
I now fear my IVA will be rejected by the creditor as its a recent transaction!
Has anyone had any experience in the past or any advice you may have to try settle my nerves. Is there still a possibility they will agree to the IVA?
I took out a loan for 7, 000 from Sainsbury bank & only paid one months payment & then applied for my iva. Mine was accepted. Hope this helps you a bit.
Many of us take out credit just before admitting defeat, usually in a last ditch effort to "save the day" and credit card companies are used to this. Most will look at the proposal put before them, rather than the state or age of the account.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Should be ok I did a money transfer of £1500 to my bank to pay overdraft off but ended up using overdraft again when was on holiday trying to make a good holiday for children that was 2 weeks before went down iva and mine got approved
I used to withdraw cash on my one credit card and then go straight into the bank and pay my minimum payment! I had no problems getting my IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
